Energy · Australia

What is the revised budget of Snowy 2.0 hydropower project?

Snowy 2.0 is a pumped-hydro expansion of the Snowy Mountains Scheme in New South Wales, Australia, connecting the Tantangara and Talbingo reservoirs through a 27-kilometre underground tunnel to a new power station of 2,200 MW, with construction starting in 2019. On 31 August 2023 Snowy Hydro announced a revised total cost to complete of AUD 12 billion, first power in the second half of 2027 and commercial operation in December 2028, against an original rough cost of about AUD 2 billion announced in 2017. In October 2025 Snowy Hydro said costs would rise again above AUD 12 billion pending a reassessment, and ABC News in June 2026 reported the project as billions over budget and years late.